Question 3: (40 points: 10 each) Direct labor: During September, Sweet Foods manufactures a single product. The Company's material purchases amounted to 9,000 pounds at a price of $9.80 per pound. Actual costs incurred in the actual output production of 3,300 units were as follows: Direct material: $67,200 ($9.60 per pound) $312,000 ($24.00 per hour) The standards for one unit of Sweet Foods Company's product are as follows: Direct material: Direct labor: Quantity 2.1 pounds per unit Quantity, 4 hours per unit Price, 59.20 per pound Rate, $100 per unit Required: Showing your calculations, Compute the following variances and indicate whether each variance is favorable or unfavorable: Final Answer Requirements & Calculations 1. Direct-material price variance. 2. Direct-material quantity variance. 3 3 Direct-labor rate variance 4. Direct-labor efficiency variance